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1. F.T.S.
Fuck That Shit. Often used in text messages.

Further meaning: I am no longer interested in that what you just mentioned...
"Amy says you called her a Whore"

"F.T.S. I don't care anymore"
2. F.T.S.
Fixing to Start... a country term for PMS, or a woman or girl who is about to start her period...
she is so moody, she must be F.T.S.!
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